Q reasoning R/R Lc 6 (taxes and interest)

Which tax form is used to figure and submit Federal Income Tax?

• Form 1099
• Form W-2
• Form 1040
• Form W-4

Which form reports the amount of money you earned and the amount of income tax you paid?

• 1099 form
• 1040 form
• W-4 form
• W-2 form

Which tax form reports interest earned and other non earned income?

• Form 1099

• Form W-2
• Form W-4

• Form 1040

Which for tells your employer how much tax to withhold from your paycheck?

• Form W-2
• Form 1099
• Form W-9
• Form W-4

Person A makes $20,000 per year and person B makes $90,000 per year. Who will pay more income tax?

• Person A
• Both will pay the same amount
• Neither one will need to pay

• Person B

What is 20% of $80?

• $20
• $12
• $16
• $25

Johnny buys candy for $0.50 a bar and sells it for $1.00. What is his mark-up?

• $0.50
• $1.50
• $0.75
• $0.25

When is Federal Income Tax due?

• June 15th
• March 15th
• April 15th
• May 15th

If a $100 dollar pair of shoes is on sale for 25% off, how much will you pay before tax?

• $70
• $75
• $90
• $80

Which is the better price, 10 widgets for $15 or $1.50 each?

• They are the same price.

• 4 for $7.50

• $1.50 each
• 10 for $15